StockNews.com Downgrades SCYNEXIS (NASDAQ:SCYX) to Sell

SCYNEXIS (NASDAQ:SCYX) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

SCYNEXIS Stock Performance

Shares of SCYX stock opened at $1.04 on Friday. SCYNEXIS has a fifty-two week low of $0.82 and a fifty-two week high of $3.07. The firm has a market capitalization of $40.54 million, a price-to-earnings ratio of -1.41 and a beta of 1.67. The stock’s 50-day simple moving average is $1.06 and its 200-day simple moving average is $1.24.

SCYNEXIS (NASDAQ:SCYX) last released its earnings results on Wednesday, March 12th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.13. SCYNEXIS had a negative net margin of 425.41% and a negative return on equity of 66.21%. The company had revenue of $0.98 million during the quarter.

Hedge Funds Weigh In On SCYNEXIS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in SCYNEXIS during the 3rd quarter valued at about $25,000. Geode Capital Management LLC lifted its holdings in shares of SCYNEXIS by 10.0% during the third quarter. Geode Capital Management LLC now owns 398,856 shares of the company’s stock worth $594,000 after purchasing an additional 36,405 shares during the period. AMH Equity Ltd boosted its position in SCYNEXIS by 4.3% in the fourth quarter. AMH Equity Ltd now owns 626,052 shares of the company’s stock valued at $758,000 after buying an additional 26,052 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in SCYNEXIS in the 4th quarter worth approximately $49,000. Finally, Two Sigma Securities LLC purchased a new position in SCYNEXIS during the 4th quarter worth approximately $25,000. Hedge funds and other institutional investors own 54.37% of the company’s stock.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a biotechnology company, develops medicines to overcome and prevent difficult-to-treat and drug-resistant infections in the United States. It offers BREXAFEMME for the treatment of patients with vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of invasive candidiasis and/or candidemia, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.